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Automatic identification and data capture market to grow at a 12.30% CAGR by 2023 according to market forecasts

Semiconductor and Electronics Research

Automatic identification and data capture market has been segmented on the basis of product, offering, vertical, and geography.

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The automatic identification and data capture market 2023 is Market Overview, Trends and Forecast till 2023 report added on ReportsnReports.com. The automatic identification and data capture market is likely to be valued at USD 40.31 billion in 2018 and is expected to reach USD 72.00 billion by 2023, at a CAGR of 12.30% between 2018 and 2023.

Download Brochure of Automatic Identification and Data Capture Market spread across 178 Pages, Profiling 10 Companies and Supported with 67 Tables and 57 Figures is now available at www.reportsnreports.com/contacts/r…aspx?name=1533668 .

Target Audience of the Report:

  • Automatic identification and data capture providers
  • Engineering and manufacturing companies
  • Banking & financial institutions
  • Healthcare companies
  • Government bodies, venture capitalists, and private equity firms
  • Logistics and e-commerce industries
  • Research organizations and consulting companies
  • System integrators
  • Technology consultants
  • Value-added resellers

The Automatic Identification and Data Capture Markethas been segmented on the basis of offering, product, vertical, and geography.

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Smart cards held a larger share of the automatic identification and data capture market based on in 2017 by product type. The leading position of smart cards, in terms of market size, can be attributed to its several application areas, including identification, health cards, public transit, ATM cards, credit cards, fuel cards, and security tokens.

“Market for the retail industry to register the highest CAGR during the forecast period.”

Among allverticals, the automatic identification and data capture market for the retail industry is expected to grow at the highest rate between 2018 and 2023. The growth of the automatic identification and data capture market for the retail sector can be attributed to the high adoption of automatic identification and data capture solutions for product authentication, inventory optimization, effective supply chain management, advanced merchandising, and mobile commerce applications.

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The growth of the automatic identification and data capture market is propelled by the growing e-commerce industry, increasing use of smart phones for QR code scanning and image recognition, and increasing adoption of automatic identification and data capture solutions by financial institutions. Factors such as the rising government regulations and growing opportunities from supply chain management and healthcare industries are expected to support the growth of the players in the automatic identification and data capture market.

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Key factors driving the growth of the market include stringent legal and environmental regulations, increased awareness about environmental protection, increasing health and safety issues, and growing use of oil & gas and petrochemicals. However, the high cost of maintenance of CEMS and fragmented market with many specialist suppliers are key restraining factors for the market growth.

“The automatic identification and data capture market in APAC to grow at the highest CAGR during the forecast period.”

Among all regions, APAC held the largest share of the automatic identification and data capture market in 2017. The leading position of APAC can be attributed to the rapid expansion of retail and logistics companies supported by the presence of several automatic identification and data capture players in the region.

Following is the breakup of the profiles of primary participants:

  • By Company Type: Tier 1 – 55%, Tier 2 – 25%, and Tier 3 – 20%
  • By Designation: Directors – 50%, Vice Presidents – 25%, Managers – 20%, and Others – 5%
  • By Region: North America – 40%, Europe – 35%, APAC – 15%, and RoW – 10%

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